On November 25, 2011, Sillenger entered into a partnership contract with the Government of Benin to conduct an Airborne Geophysical Survey of its landmass and Benin’s offshore territory in the Gulf of Guinea. Under the contract, Sillenger will be granted its preferential rights for mining, hydrocarbons, and water concessions, which are revealed by the survey. Benin has a strong desire to stimulate economic growth by attracting foreign investment to develop its mining and oil industries.

The Country, with a population of 9 million, is located in West Africa, and is one of Africa’s most stable and democratic nations. Benin shares a border to the east with Nigeria, Africa’s leading crude oil exporter; with Togo to the west, the world’s fourth-largest phosphate producer; on the north with Niger, the world’s sixth-largest producer of uranium; and on the northwest by Burkina Faso, a country with many active exploration and development projects in a rapidly emerging mining sector.

John Gillespie, Michel Ghostine, Thomas Boni Yayi – President of Benin

Preliminary examination of Benin’s mining industry research suggests there is mineral potential for iron-ore, gold, limestone, marble, and agro-minerals such as phosphates. There is no history of significant mining activity in Benin, with the exception of limestone for the cement industry. Situated on the oil-rich Gulf of Guinea next to Africa’s leading oil producer, Nigeria, Benin offers tremendous potential for oil and gas exploration. Oil was first discovered in Benin in the 1960’s, and the Seme oil field produced 23 million barrels between 1985 and 1999, before being shut down due to declining oil prices. Several major oil producers are currently exploring Benin’s offshore oil blocks.

From left to right: Michel Ghostine, Jacques Jean Atchade – General Director of Hydrocarbons, John Gillespie, Ara Vanlian – Lebanese Counsel General to Benin

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